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Leases | 9 Months Ended
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Mar. 31, 2020
Leases |
Leases | 7. Leases Our lease portfolio consists of real estate, vehicles and equipment ROU assets, classified as operating leases. The remaining non-cancelable lease terms, inclusive of renewal options reasonably certain of exercise, range from one to 16 years. The following table summarizes the ROU assets and the related lease liabilities recorded on the consolidated balance sheet:
|  | March 31, |  |
As of |  | 2020 |  | Balance Sheet Classification
Assets: |  |  |  |  |
Operating lease ROU assets |  | $ | 22,083 |  | Other Assets
Liabilities: |  |  |  |  |
Current portion |  |  | 6,416 |  | Accrued expenses and other current liabilities
Non-current portion |  |  | 16,361 |  | Other liabilities
Total operating lease liabilities |  | $ | 22,777 |  |
The following table summarizes the composition of net lease cost:
|  | Three months |  | Nine months
For the Periods Ended March 31 |  | 2020 |  | 2020
Operating lease expense |  | $ | 1,885 |  | $ | 5,647
Variable lease expense |  |  | 361 |  |  | 992
Short-term lease expense |  |  | 196 |  |  | 613
Total lease cost |  | $ | 2,442 |  | $ | 7,252
The following tables include other supplemental information:
|  | Three months |  | Nine months
For the Periods Ended March 31 |  | 2020 |  | 2020
Operating cash flows used for ROU operating leases |  | $ | 1,884 |  | $ | 5,529
Right of use assets obtained in exchange for new operating lease liabilities |  | $ | 830 |  | $ | 8,591
|  | As of |
|  | March 31, 2020 |
Weighted average remaining lease term (in years) – ROU operating leases |  | 6.5 |
Weighted average discount rate – ROU operating leases |  | 4.07 | %
At March 31, 2020, maturities of future lease liabilities were:
For the Years Ending June 30 |  |  |
2020 |  | $ | 1,981
2021 |  |  | 6,665
2022 |  |  | 5,076
2023 |  |  | 2,829
2024 |  |  | 2,378
2025 and thereafter |  |  | 7,413
Total lease payments |  |  | 26,342
Less: interest |  |  | 3,565
Total operating lease liabilities |  | $ | 22,777
As of March 31, 2020, we had approximately $5,600 of undiscounted lease payment obligations associated with an executed lease agreement for which the related lease had not commenced. The undiscounted payments are based on an initial lease term of seven years. We do not have control of the underlying assets prior to lease commencement, which is expected to be prior to June 30, 2020. Our lease agreements do not contain any material restrictive covenants or residual value guarantee provisions. Future minimum lease payments for operating leases accounted for under ASC 840, "Leases," with remaining non-cancelable terms in excess of one year at June 30, 2019, were:
For the Years Ending June 30 |  |  |
2020 |  | $ | 5,815
2021 |  |  | 4,160
2022 |  |  | 3,191
2023 |  |  | 1,445
2024 |  |  | 865
Thereafter |  |  | 765
Total minimum lease payments |  | $ | 16,241

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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